European inflation rises as recovery gains ground
January 5th, 2010 - 11:21 am ICT by IANS ( Leave a comment )Berlin, Jan 5 (DPA) Inflation in the 16-member eurozone rose last month, preliminary data released Tuesday is forecast to show, as signs that the currency bloc’s economy remained on a recovery course.
The European Union’s statistics office, Eurostat, said annual inflation in the eurozone rose from 0.5 percent in November to 1 percent in December.
But despite the rise, consumer prices in the eurozone are still well below the European Central Bank’s (ECB) 2-percent ceiling for annual inflation.
Moreover, economists are expecting the ECB to keep interest rates on hold for the months ahead with the eurozone recording only a modest recovery from the recession that engulfed the currency bloc last year.
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- Europe's inflation plunge adds to rate cut pressure - Jan 06, 2009
- Europe 'on edge of recession' as world economy slumps - Aug 14, 2008
- Eurozone inflation rate drops slightly to 2.5 percent - Jul 29, 2011
- Euro area inflation jumps to 2.7 percent in March - Apr 15, 2011
- Japan's GDP growth lowered to 5.6 percent - Dec 09, 2011
- German economy shrank 4.8 percent in 2009 - Jan 13, 2010
- US stocks stay low for straight day - Dec 15, 2011
Tags: berlin, bloc, currency, dpa, ecb, economists, economy, european inflation, european union, eurostat, eurozone, gains ground, interest rates, recession, signs, statistics office
